Shares of Yes Bank Ltd fell as much as 12.7% to a seven-month low on Monday at the end of a three-year lock-in period that barred investors from selling stock they had acquired as part of the lender's restructuring.
The Reserve Bank of India (RBI) had required Yes Bank's shareholders, which includes the State Bank of India (SBI) and other private lenders, to hold on to 75% of the shares acquired as part of the restructuring in March 2020.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Yes Bank shares have fallen by more than 50% since the restructuring, including about 20% this year after the lender reported a surprise 80% drop in quarterly profit in January.
At its lowest on Monday, Yes Bank's shares registered their biggest intraday percentage decline in nearly three years, before recovering to trade 3.3% lower at 15.95 rupees.
SBI - Yes Bank's biggest shareholder with a 26.14% stake in Yes Bank as of Dec. 31, as per regulatory data - and other lenders had acquired the bank's shares for 10 rupees apiece in March 2020.
ICICI Bank Ltd, Axis Bank Ltd, IDFC First Bank Ltd, Kotak Mahindra Bank Ltd and Housing Development Finance Corp and state-owned Life Insurance Corp of India hold stakes of 1% to 4.34% in Yes Bank.
The mean recommendation of the 14 analysts covering Yes Bank shares is "sell", while their median price target is 15 rupees, according to data from Refinitiv.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.